FDIC Listed for CRA Noncompliance, Washington DC, 2023

Washington – The Federal Deposit Insurance Corporation (FDIC) has dropped the hammer on its latest list of state nonmember banks, revealing which institutions have come under the spotlight for their Community Reinvestment Act (CRA) compliance. This revelation comes as the FDIC evaluates institutions’ efforts to meet local credit needs, particularly in low- and moderate-income neighborhoods.

Enacted in 1977, the CRA was designed to ensure that banks and thrifts provide adequate lending services to communities, even if it means taking on higher risks. The FDIC’s latest report covers evaluations conducted in February 2023, providing a snapshot of the financial sector’s commitment to community support.

The FDIC mandates the public disclosure of CRA evaluations for each bank or thrift that undergoes examination since July 1, 1990. This transparency is crucial for holding banks accountable and ensuring they meet the needs of all communities.

Individuals can access a consolidated list of all state nonmember banks evaluated under the CRA since 1990 by visiting the FDIC’s Public Information Center or by contacting them at 877-275-3442 or 703-562-2200.

For those interested in the details of a specific bank’s CRA evaluation, they can request it directly from the bank or obtain it through the FDIC’s Public Information Center.

The latest list, titled ‘May 2023 List of Banks Examined for CRA Compliance,’ is now available and provides a monthly update on banks under scrutiny. For more information, contact the FDIC at 703-470-0201.

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